Changes For Companies – Part 1 – 2016

The challenge I face every New Year, is working what’s coming up and what issues are going to be on the agenda. In a fast changing world, it’s tough to keep on top of new legislations which often burst forth like floods in a rain soaked land. If you don’t keep up to date, some things can catch you out. So, to help you solve that problem, here’s a brief summary of some of the changes in company law that will come in to effect this year. These key changes are part of the Small Business, Enterprise and Employment Act 2015; this was the Act introduced, amongst other things, to increase transparency for companies and those dealing with them, and clamp down on some abuses associated with registering companies.

  1. Submit 25% shareholder information to Companies House June 2016
  2. Annual Return replaced by ‘click and confirm’ June 2016
  3. End of Corporate Directors October 2016

PSC Register is a register which needs to set out the details of anyone who has 25% or more influence or control in a company. This should be created now, and then be ready for submission by June. The information should essentially allow someone looking at a company, to see immediately who has a key stake in the business.

No more annual returns. Well, no more having to go through a form each year and input all the details. Now you’ll simply be asked to ‘click and confirm’ that the details are all correct. Hopefully making the process of keeping the company register a little bit easier. Although I’m not sure this is an issue which keeps directors awake at night, we welcome any simplification of rules around company law.

Probably most importantly is the end of the ability to register corporate directors as directors of companies. This has been a device used for a number of years and for a number of reasons. Now, except in exceptional circumstances, a director will need to be an individual qualified to act. So, from October 2016 this will all be no more.

Other changes:

Disputed Directors/Registered offices – from June 2016 it will be easier to remove a director and/or a registered office where consent has not been given. This should help clamp down on fraud, where people register a company faking the consent of third parties; something I’ve been a victim of myself, so I welcome this change.

So that’s a brief summary of some of the changes in Corporate Law ahead, to help you navigate the early stages of 2016 and make any changes to your systems and structures. Please call us if there is anything you would like to talk to us about or any other aspects of law affecting your business.

Oh and finally, Happy New Year!

Make An Enquiry

Call us now on 020 7113 4003 or complete our Online Enquiry and we will be delighted to talk with you about your legal matter.

Free Enquiry

Back to all news

Share Article With:

Make An Enquiry

Client Reviews

Venetia Lawson-Cruttenden [solicitor] is fantastic!  She is always so thorough and efficient and gives you the

DG Law supported us through a very difficult contractual negotiation to achieve exactly the outcome

We were very pleased with the way that DG Law helped us on our transaction

Thanks for all the help from DG Law in pulling together our somewhat complicated loan. 

DG Law resolved a difficult lease renewal for us and their services were excellent –

I needed understanding and experienced legal advice. DG Law provided an excellent service at a

My experience was second to none – the service was professional and personal. DG Law

DG Law always step up to the plate on our transactions and handle the various

DG Law was recommended to me and my partner and I received excellent advice –

Having worked with DG Law a number/couple of times now, I have been really impressed

DG Law were constantly at hand, and kept pro-active throughout the thorny process of getting

DG Law organised and ran a very useful session to help to make our team’s

DG Law came recommended to me and whilst setting up a new business it was

We were recommended three lawyers to handle the sale of our seven year old successful

Why Choose Us?

We live by our core values of transparency, flexibility and being honourable – every day

We put ourselves in your shoes so we understand your problems from the inside out

We deliver our advice in a way that is easy to understand